Gold price faces new negative pressures – Analysis - 25-01-2023
Gold price faced new negative pressures yesterday to attack 1925.00 level, but it bounced bullishly to end the session above the bullish channel’s support line, to keep the chances valid to continue the main bullish trend, which its next target located at 1950.00.
The EMA50 continues to support the suggested bullish wave, noting that breaking 1928.00 followed by 1921.00 will stop the expected rise and press on the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish
The USDCAD awaits the break – Analysis - 25-01-2023
The USDCAD pair continues to fluctuate at the key support 1.3350 and attempts to break it, waiting for more decline to visit 1.3205 areas on the near term basis.
Therefore, the bearish trend scenario will remain active on the intraday and short term basis, noting that it is important to hold below 1.3415 as a first condition to continue the expected decline.
The expected trading range for today is between 1.3270 support and 1.3410 resistance.
The expected trend for today: Bearish
The USDJPY settles above the resistance – Analysis - 25-01-2023
The USDJPY pair settles above the breached resistance that appears on the chart, getting positive support by the technical indicators, to head towards building expected bullish wave in the upcoming sessions, targeting 131.50 followed by 133.30 levels as main positive stations.
Therefore, the bullish bias will be expected for today, taking into consideration that breaking 129.70 will stop the suggested rise and press on the price to turn to decline again.
The expected trading range for today is between 129.70 support and 131.40 resistance
The expected trend for today: Bullish
The GBPUSD tests the key support - Analysis - 25-01-2023
The GBPUSD pair provided more negative trades to break the intraday bullish channel’s support line and test the critical support 1.2320, noticing that the price consolidates above this support until now, accompanied by witnessing positive signals through stochastic, which supports the chances of resuming the bullish trend that its targets begin by breaching 1.2440 to open the way to head towards 1.2590.
On the other hand, we should note that breaking 1.2320 will put the price under additional negative pressure that targets 1.2160 areas initially.
The expected trading range for today is between 1.2250 support and 1.2420 resistance.
The expected trend for today: Bullish